The Truth About Corporate Tax Dodging, BBC 1, Monday May 14th @ 8:30pm

You could though, make that argument about any possession. The big pile of shares or the 20 rented properties.

The reason to exclude 1 home is because it wouldn't defeat the purpose of IHT.

You don't need a pile of shares or 20 rented properties to sleep at night.

There is a fundamental difference between the roof over your head and an income generating asset.

To suggest that society should have a claim on a family home is the simple product of socialist envy.
 
You don't need a pile of shares or 20 rented properties to sleep at night.

There is a fundamental difference between the roof over your head and an income generating asset.

To suggest that society should have a claim on a family home is the simple product of socialist envy.

Your all over the place... It's either ok to keep it because it's a home or it's ok to keep it because it's been bought and paid for. I'm fine with the home thing, but not with the bought and paid for.
 
Once your parents passed away, she'd get a job I guess?

Not my parents.

In Ireland at the moment the job situation is much worse than it is here. A woman of near 40 who has not been in employment for over 10 years will not be able to get a job that will cover the cost of the inheritance tax on that home.

We are getting involved in the specifics of an individual case though. I strongly believe that the family home should be exempt from IHT. I fail to see any justice in seeking to dispossess a family of their family home.
 
Last edited:
Not my parents.

In Ireland at the moment the job situation is much worse than it is here. A woman of near 40 who has not been in employment for over 10 years will not be able to get a job that will cover the cost of the inheritance tax on that home.
Then she would need to sell the house, and downsize using the remaining money, I guess.

Thinking out loud: I wonder how costly it would be to add in a process and additional tax benefit for live-in carers without creating loopholes.

But either way, houses and land most certainly should not be excluded from IHT.
 
Then she would need to sell the house, and downsize using the remaining money, I guess.

Thinking out loud: I wonder how costly it would be to add in a process and additional tax benefit for live-in carers without creating loopholes.

But either way, houses and land most certainly should not be excluded from IHT.

Just do what there is for CGT, exemption for primary homes.

Although I don't agree with IHT, just helping you with a solution.
 
Aren't rich individuals able to avoid most of their tax bills quite easily?

Surely the more sensible option is to de-globalise through e.g. increased tax harmonisation, clamp downs on un-cooperative tax havens and tough general anti-avoidance rules.

Why?

Why should nations not be allowed to decide what their tax rate is going to be?

If a nation decides its policies can survive on taxing business 5% rather than 20% why should it have to raise tax to 20% to harmonise with other nations?

Maybe there is an argument for nations to legislate in their own countries to stop this but that is another matter entirely.

As for Inheritance tax, I'd be happyish with the limit set at £1m rather than the current £250-300k ish it is now, at least then it will be set to do what it was designed to do rather than penalise people that have a family and live in the south...
 
Back
Top Bottom